Authorized banks of Azerbaijan Mortgage Fund (AMF) under the Central Bank of Azerbaijan gave in the eight months of this year loans of 42.6 million manat, which is 18.7 million or 30.5% less than in January-August 2011.
According to the Central Bank of Azerbaijan, the average lending rate increased 0.16 percentage points to 7.07%. The average credit period reached 277 months.
The average for the monthly payment increased by 3.9% to 313.2 manat, and the same indicator for the amount of loans fell by 1.3% to 38.86 thousand manat.
AMF agents are 27 local banks. Mortgage loans are for Azerbaijani citizens up to 50,000 manat for up to 25 years at a rate no higher than 8%. Concession loans are up to 35,000 manat for up to 30 years at a rate of up to 4% per annum. - 15V -
Economics
-
Azerbaijan's National Depository Center (NDC) has announced a series of strategic goals and digital innovations for 2024-2026, aimed at fostering trust, expanding market access, and diversifying investment instruments in the country’s capital markets.
-
The payment method used in Baku's public buses, which operates via a mobile phone app and QR code activated by the M10 program, creates difficulties for passengers, economist Samir Aliyev stated on Facebook.
-
Starting next year, the Azerbaijani government will adopt a new policy towards entrepreneurs who export domestic products abroad but fail to return a portion of their earnings to the country. This issue often concerns Azerbaijani tomatoes sold in Russia. According to National Bank Chairman Taleh Kazimov, decisions to penalize such entrepreneurs will no longer be made without a thorough investigation into the reasons behind the failure to repatriate earnings.
-
The Cabinet of Ministers of Azerbaijan has approved a new Unified Tariff Schedule to determine the monthly salaries of public sector employees financed through the state budget. This decision, outlined in Decree No. 540, comes into effect on December 26, 2024, and is aimed at standardizing wages in the public sector.
Leave a review